How to Save Money for Studying Abroad
Doing an undergraduate or postgraduate course abroad can be a dream come true for sure. But, no matter how exciting this proposition might sound, the deciding factor is money. Unfortunately, when it comes to saving money for your study abroad, many international students virtually cut off every means of expense.
However, you cannot save enough if you starve yourself or shy away from your responsibilities. Expenses such as library fees, lab fees, tuition fees, etc., would taunt you if you walk on a tight budget. However, we have listed some money-saving tips that can help you, especially using the Pay4Me App for your transactions.
Find affordable accommodation
If you cannot find suitable accommodation, especially for students who desire to live off-campus, it might affect every aspect of your life abroad. You can consider living close to your school.
In addition, students who share accommodation can save more on rent and have the opportunity of meeting new people. Meanwhile, staying in a dorm or a hostel could be a preferred choice if you don’t have much money.
Choose your phone service carefully
You cannot stay without communication abroad. With the number of phone services available, you should carefully pick an affordable phone service company. Consider the packages available and what you stand to gain when you use a particular service company.
We recommend that you opt for prepaid phone service plans that you can top up and stay away from monthly contracts.
Avail student discounts
A thoughtful way to save more when relocating abroad is to search for discounts on different things. From home, you can check where to avoid because of exorbitant fees and where to use for your shopping.
These discounts could come from transportation, feeding, and lifestyle. If you can find the places that afford discounts for their services, you can save more abroad. Meanwhile, you must check with the school for more details about student discounts.
Shop during Black Friday or garage sales
You don't have to rush to buy things when you reach your destination. Instead, ask questions about where to buy things at affordable rates like garage sales, flea markets, or other places. Every city has unique sites for people who want to buy stuff at an affordable rate.
Search for free entertainment options
You can have fun and still spend less abroad. First, however, you must know the right place to go if you want to save more money. Every city has some form of free entertainment package for its residents.
For instance, universities have a variety of entertainment options that you can use for your relaxation. Do not forget to join the students' club to access such benefits easily.
Cook your meals
A life hack you need abroad is cooking your meals as a student. Eating out can burn a severe hole in your finances. Therefore, you should learn how to cook different food items abroad. You can learn how to cook with some YouTube tutorials, especially if the country has a different way of cooking. However, you can cook more on weekends to handle the following week's meals.
Buy second-hand goods
We have numerous places you can buy second-hand goods like textbooks and clothing for students. Visit some charity shops and don't be embarrassed to ask for discounts. In addition, you can purchase great vintage accessories, books, furniture, clothes, etc.
Draw up a budget
It would help if you learned how to plan your expenses abroad. The easiest way to avoid breaking is by planning a budget for travel, food, rent, and lifestyle. In addition, you will need a little buffer to save you during rainy days.
What if I can’t afford to study abroad?
1. Choose a country with an affordable cost of living.
2. Enroll directly in a foreign university or language school.
3. Complete a work-study.
4. Opt for a cheap study abroad program.
5. Apply for scholarships & grants.
Which payment service should I use for my international transactions?
Pay4Me App has become a seamless payment option for international students who want speed and a competitive exchange rate.